It’s time for investors to put their chips back on the table in the VLCC market.
That was the bull statement from US investment bank Jefferies on Wednesday as it increased price targets for three owners of the large tankers while also upgrading rates expectations in 2025 and 2026.
Tanker owners Frontline and International Seaways, as well as VLCC pure-play DHT Holdings, all saw boosts to their price targets as Jefferies lead shipping analyst Omar Nokta parsed implications for greater fleet utilisation.
